REDjet’s creditors accept deal

(Barbados Nation) REDjet’s creditors have agreed to accept at least 25 cents of every dollar which the insolvent airline owes them.

Even without the support of two major local creditors – Grantley Adams International Airport (GAIA) Inc. and the Commissioner of Inland Revenue – a vote taken last Tuesday gave REDjet the majority it needed to avert automatic bankruptcy. However, creditors will have to wait until at least next year to get any money back.

Attorney-at-law Anthony Audain, acting on behalf of Dr Grenville W. Phillips who was appointed trustee after REDjet filed for insolvency on June 5, said the High Court must now give the plan the final nod before the airline can go ahead with sorting out the repayments.

“I made an application to the court [Friday] and the hearing is on November 8, when we will ask the court to approve the proposal. The court will have to make its own judgment as to whether the proposal is feasible and whether it’s reasonable,” Audain told the SUNDAY SUN.

Comments  

Regional nations plus U.S. condemn Venezuela’s new constituent assembly

Nicolas Maduro CARACAS/LIMA, (Reuters) – A group of 12 regional nations plus the United States rejected Venezuela’s new government-allied legislative superbody, saying they would continue to regard the opposition-controlled congress as the country’s only legitimate law maker.

18 Lusignan prisoners hurt after reported bid to kill ‘informant’

Eighteen prisoners at the Lusignan penitentiary were being treated for injuries last night following a reported attempt to kill a fellow inmate during which warders fired shots.

Girl, 12, crushed to death by LBI house

A 12-year-old girl is now dead, while her brother narrowly escaped a similar fate yesterday after their aunt’s La Bonne Intention (LBI), East Coast Demerara house, which they were under, collapsed on them.

By ,

Guyana applies to key EU watchdog on natural resources revenues

Guyana has officially applied for membership in the European Union’s Extractive Industries Transparency Initiative (EITI) which will help in tracking revenues from oil and other natural resources.

Halt of police promotions to prevent damage to force -Harmon

State Minister Joseph Harmon yesterday reiterated that President David Granger’s directive to the Police Service Commission to halt its consideration of promotions was intended to prevent damage to the image of the Guyana Police Force but he could not say under what authority the head of state acted.

Your browser is out-of-date!

Update your browser to view this website correctly.

We built stabroeknews.com using new technology. This makes our website faster, more feature rich and easier to use for 95% of our readers.
Unfortunately, your browser does not support some of these technologies. Click the button below and choose a modern browser to receive our intended user experience.

Update my browser now

×